Friday, May 06, 2011

Chris Masse points out that Intrade futures failed to predict the demise of Osama Bin Laden

here.

Any tool has its limits.  Scroll down on his post for a bit of a conversation in the comments.

I'd say that any committee decisions are difficult to predict, especially if the committee is not stable in membership, nor has a track record of similar decisions to quantify.

Juries might seem fit this description, but I think they are an exception, because there are a lot of legal (e.g. voir dire rules), judicial (charges to the jury from the judge), and cultural (Law & Order television) that would actually stabilize the process of selecting juries.

Image link here.

1 comment:

  1. MoneyMetalBets predicted Osama's demise, although yes to his point I didn't start trading until they said Obama was going to address the nation at night.

    http://predictioninsights.wordpress.com/2011/05/04/bin-laden/

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